Abstract This paper draws on McFadden’s location choice theory and incorporates households’ residential choice decisions as a hierarchical process in a structural travel demand model. The paper argues that such an approach can effectively tackle the problems of self-selection and...

Summary This paper uses microdata from the German Socio-Economic Panel Study (GSOEP) to analyse the importance of precautionary saving under income uncertainty. In a cross-section of households, wealth in 2002 is regressed on alternative measures of income uncertainty. In addition to the usual...

Summary Several destination countries still adopt general immigration policies, and are characterized by lower returns to education than the countries of origin of the migrants. These two stylized facts challenge the literature on the beneficial brain drain which demonstrates that migration can...

Purpose – The paper aims to focus the attention on a particular segment of the labor market – informal workers. Despite a large literature on migration, interesting and relevant questions remain to be studied. The paper investigates whether informal workers could be compared to political...

Purpose – The current credit rationing strongly influences the viability of SMEs innovation projects. In this context, the practice of screening borrowers by project success probability has become a paramount consideration for both lenders and firms. The aim of this paper is to test the...

Purpose The purpose of this paper is to provide a better understanding of the determinants of small and medium-sized enterprises (SME) financing constraints and their impacts on investments in innovation. To explicate these factors, the authors use a general definition of innovation,...

Purpose The purpose of this study is to analyze the extent to which under- and over-investment problems affect hotel firms’ value around the time when acquisitions are announced. Design/methodology/approach Hotel firms are classified based on their financial constraints (under-investment),...

Purpose – The purpose of this paper is to test whether Australian female and male entrepreneurs differ in their growth aspirations and demand for finance; denial, discouragement and financial constraint rates; and sources of finance. Design/methodology/approach – This paper applies logistic...